Loading ...Gold & Silver (continued)
As I laid out yesterday around 5PM, we have seen the expected spike and now the expected smash has begun. This is very positive. The spike took gold to a new ATH and silver to a new high for this move(so far).
The best thing that could happen here, is for silver to get down to just above 30. If not today, probably tomorrow.(it could even dip just below 30 to freak everyone out, but not likely)
This follows something I have stated often, the best backtest of a breakout, is an immediate one. As long as it isn’t at the end of a blowoff top that is headed much lower.(not the case here)
If you still have more fiat than needed for short term expenses, use any dip to 30 to stack more silver.
“Not investment advice” but some good interesting analysis
🙂
An observation regarding physical. ASE’s @ Friday peak spot, $37-$38, today’s spot peak (about the same level as Fri), but ASE’s in the $38-$40 range. I suspect is that if spot takes a dip to 30, phys premiums will just expand (sticky prices). GSR at 75-77 is still quite elevated – not selling/exchanging any Phys. Gold is around 21% over it’s 2011 highs and silver is still 35% below it’s ATH. Silver at 21% over it’s ATH would be around $60 -early innings.